Oragenics rises on license deal for intranasal COVID vaccine candidate
01/03/2023 17:44
** Shares of drug developer Oragenics Inc OGEN.A rise 5.9%
to $4.87
** Co enters into a global license agreement with privately
held Inspirevax Inc for its novel intranasal mucosal adjuvant,
BDX301, to pursue development of NT-CoV2-1, OGEN's lead
intranasal COVID-19 vaccine candidate
** Adjuvants help vaccines to work better by creating a
stronger immune response in people receiving the vaccine
** Co intends to provide an update in mid-2023
** The companies will form a Joint Development Committee
comprising representatives of both companies to oversee the
development efforts collaboratively
** OGEN will make clinical, regulatory and commercial
milestone payments, as well as tiered royalty payment
** Stock lost ~76% in 2022
(Reporting by Sriparna Roy)
((Sriparna.Roy@thomsonreuters.com;))
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